(The Center Square) – The Illinois Department of Revenue says the state’s remote retailer tax amnesty program will be available from Aug. 1 through OCt. 31.
The initiative forgives interest and penalties to encourage compliance with state laws by retailers that sell to customers in Illinois but do not have a physical presence in the state.
BANKERS, CREDIT UNIONS WELCOME LATEST SWIPE FEE RULE
The National Credit Union Administration has issued a rule it says clarifies that federal credit unions are not subject to state regulations of payment card transactions.
The NCUA announcement on Monday is aimed at the Illinois Interchange Fee Prohibition Act that bans swipe fees on the tax and tip portions of credit and debit card transactions.
The Illinois Bankers Association, Illinois Credit Union League, American Bankers Association and America’s Credit Unions issued a statement welcoming the NCUA’s “interim final” rule as IFPA litigation continues. The state legislature recently delayed the law’s effective date to July 1, 2027.
INVESTMENT ADVISOR INDICTED
An Illinois investment advisor has been indicted for allegedly swindling at least three clients in a Ponzi scheme.
Prosecutors say John Myers, 41, of Chicago fraudulently solicited and obtained money from three victims based on false representations about the performance and value of the investments.
While operating Sterling Capital Investments, LLC, Myers allegedly used some investor funds to repay prior investors.
13-YEAR OLD CHARGED IN SHOOTING THAT WOUNDED FOUR
A 13-year-old is charged with a shooting that left four other boys wounded in Chicago’s Bronzeville neighborhood on Saturday night.
CWB Chicago reports that the teen allegedly pulled out a handgun and fired into a crowd of more than 100 people, mostly teens and preteens. An 11-year-old, two 13-year-olds and a 14-year-old were hospitalized in good condition.
The suspect was taken into custody about 20 minutes after the shooting.
ELDORADO MAN GETS 60-YEAR CHILD SEXUAL ABUSE MATERIALS SENTENCE
A Saline County man has been sentenced to 60 years in prison for producing and disseminating child sexual abuse material.
Jody Allen, 32, of Eldorado pleaded guilty to four felony counts of producing child sexual abuse material.
Anonymous tips of child sexual abuse materials can be reported through the National Center for Missing and Exploited Children’s CyberTipline.